This basis of premium involves units of exposure, and the quantity comprising each unit of. exposure is indicated in the classification rates, such as âper personâ. Endurance American Specialty Insurance Company EGL 1305 0606. Page 2 of 5.
DEFINITION of 'Conservatorship' A conservatorship is a situation or circumstance wherein the courts determine that an individual is not capable of overseeing and dealing with legal matters, thus the individual appoints someone else, a conservator, to take care of such matters.
Probate conservatorships are governed by the state in which the individual resides or by the state in which the conservatorship is established. In some jurisdictions and states, a conservatorship is referred to as a guardianship, or conservators are sometimes referred to as trustees.